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When Using Analytical Procedures, the Auditor First Needs to Develop

question 5

Essay

When using analytical procedures, the auditor first needs to develop an expectation with which to compare recorded results. What is meant by "precision of the expectation," and what factors affect the precision of analytical procedures?


Definitions:

Apology

An expression of regret or sorrow for having wronged someone.

Positive Statement

An affirmative expression that conveys a constructive or optimistic message.

Bad News

Information that is unpleasant, disappointing, or distressing to receive or deliver.

Deal with Criticism

Strategies or methods to handle or respond to negative feedback or evaluation in a constructive manner.

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